What is just happened on the Bitcoin Market?

[davis196]

Bitcoin was around $45K to $45.5K for the whole day, but it started going down for the last two hours. Bitcoin just touched $40.7K, and now it's around $42K again. I was trying to figure out what had just happened. Bitcoin lost $3K in two hours and alts are now bleeding. There are several negative news just popped up and some of them are

* SEC will REJECT Bitcoin Spot ETFs Again Says Matrixport Report
* Miners Unload BTC to Exchanges
* Matrixport Predicts Bitcoin Price Dip To $36k Amid SEC’s Potential Rejection Of BTC Spot ETF

Which one could be reason of such movement?

Probably lack of support for a price above 45K, which leads to many traders selling BTC at 45K and cashing in the profits. This leads to a wave to automatic stop loss orders, which pushed the price down.
This Matrixport Report has been pointed as a big FUD factors in the last few days, but I don't believe it. How can the creators of the report know about the SEC rejecting the Bitcoin Spot ETF before there's an actual decision? Does someone have insider information about the SEC decision?
Anyway, the price pump from 30K to 45K was clearly caused by the anticipation of a Bitcoin Spot ETF approval. If the ETF gets rejected, I think that the BTC price will get down to 30K(which isn't necessarily bad). I expect the real bull run to begin several months after the 2024 BTC halving.

[1714760925]

1714760925

[1714760925]

1714760925

[1714760925]

1714760925

[danherbias07]

It's difficult to find the real answer behind the fluctuation of the Bitcoin market, we can speculate all we want but we won't find the exact answer.
IMO, it's just a normal movement from whales trying to dump and purchasing back. Playing with the market to accumulate more Bitcoin so that they will be ready when the full swing starts. Expect more of this to happen before the Bitcoin ETF approval. There are so many articles coming out about the "what ifs" of the decline of the SEC or prolonging the battle by not letting the approval happen as early as possible.
All of this could make the Bitcoin market react as all eyes are on the movement of Bitcoin as we get near a possible swing up that would create a new ATH.
What we can do now is just be ready as always, monitoring the market on how it will behave because these are crucial times that might write an unforgettable history for Bitcoin.

[EarnOnVictor]

The answer is always there regardless of the effect of immediacy given recent times;  "The news of...", obviously the comments about the ETFs, bring flavor, but they are short-lived, where are we after a year, January 2023 the minimum price +$16k.

So, don't worry, just hold or buy is easy, and for more, look at the history.

What you narrated made me suspect that you are lucky to buy Bitcoin at a very low price. But many are not so lucky, which is why they will continue to be scared. By what happened in the past when halving was approaching as we are now, the coin has never behaved the way it behaved where some bullish impacts would be felt for months as if the bull run season had come. This has pushed the price of Bitcoin higher already, so those who bought it at a higher price are now worried. Well, as it is now, you might be calmer than them since you have the advantage, yet they should be calm as well or liquidate their position until they see a reason to buy it again. My concern is that Bitcoin may have a strong fall over time before it will stabilize and move higher afterwards. This could be a serious concern for those who are not so lucky to buy it at a very low price as well.

[tygeade]

don't worry, it looks like bitcoin will recover to $45K in the near future.

Considering it is nearly at 44k again, you could see that all those FUD people were wrong, as always. I mean this is such a simple thing, and we need to just realize that it's been happening for so many times in a row right now, so it shouldn't really be something that we should care about. I get that we are going to end up with a situation where it snot going to be all that simple, but it's really not that complicated.

The price will go up, it is nearing halving, so for the next 1.5 years it will go up, that is just as simple as that, there will be tiny drops like this, but overall it will go up and we just need to realize that is the reality and that's it. I get that we may not end up with something that could change the world, but we just need to accept that as reality.

According to CMC, it has peaked at 45.9k at second of January, I agree that dropping to under 41k levels a day later may have scared some people, but also it peaked over 44k just a day later as well. That is why we call bitcoin volatile, there is a reason for that and I think it should be important to be aware of that.

I am not saying that it is going to be all that easy to handle it, all I am saying is that we are going to end up with something that should matter to us all the time. I get that it is not that easy, and I get that it may feel a bit off, like when you see it at 45k and then 40k, I get the "fear", but that is just volatility. Let the bitcoin world act all up and down, the long term will always be up in the end.

[philipma1957]

Bitcoin was around $45K to $45.5K for the whole day, but it started going down for the last two hours. Bitcoin just touched $40.7K, and now it's around $42K again. I was trying to figure out what had just happened. Bitcoin lost $3K in two hours and alts are now bleeding. There are several negative news just popped up and some of them are

* SEC will REJECT Bitcoin Spot ETFs Again Says Matrixport Report
* Miners Unload BTC to Exchanges
* Matrixport Predicts Bitcoin Price Dip To $36k Amid SEC’s Potential Rejection Of BTC Spot ETF

Which one could be reason of such movement?

Yeah hard to say. I also googles right after the drop happened but first I didn't really find anything.
Then I saw there have have been some twitter posts of some influential people spreading fear of ETF rejection and so on.

It was all good and then within minutes this 10% drop.
But we all are used to it, that's nothing new to the crypto community.
Whatever pushes or pulls the price is always a mystery for me, as usual.

Wealthy people have many piles of different wealth.

Lets take a imaginary guy with 25 billion in wealth.

He has 40,000 btc which is 1.6 to 1.8 billion dollars.

he knows the ETF is coming next week.

he feels no ETF will dump btc to 30k

so he sells ½ his btc drops price to 40k with that sale.

It is a new year and tax laws vary a lot country to country. He may not need to pay any tax on it until dec 2024.

He is liquid cash of maybe 800 million. He can hold it for next deal.
and if no ETF happens dropping price to 30k he can get more btc not worrying about any tax issue until december.

and remember he kept ½ of his btc so if ETF comes in and btc goes to 75k he has the other 20,000 btc.


also remember we are talking about a guy worth 25 billion he has lots more wealth on the side.

[ScamViruS]

Panic in the face of every condition is not necessary, because another bear may not come at a moment like now, and you yourself have also seen that currently there are more frequent increases than prolonged declines in prices. So the bear will not have the potential to come immediately, except for a short correction to make a bigger jump to the top level in the market.

Even this sudden price decline has forced many traders to panic sell and liquidated high leverage positions. So here Bull has filled their bag more. The market momentum was positive for so long that everyone's expectations were increasing and bulls took advantage of this situation as a result of negative news.

The sudden dump created a lot of fear in the market which caused many traders to lose their patience, but the market quickly started to recover from the lower price. So I think the bears are not yet strong enough to take control of the market which is why the market is still trying to turn positive.

[GeorgeJohn]

Their is always speculation concerning bitcoin, whenever Bitcoin is approaching to good heights of price, the thing is that the price of bitcoin always approach high and low and what's makes the price to increase to such is because of the demands and when the demands is higher than the supply the price rise up unexpectedly, so the price is not stable and it may rise today and tomorrow it may fall that's the nature of cryptocurrency especially bitcoin

[cakravothy]

Today the price of bitcoin has dropped slightly. but the price of altcoins has dropped a lot aka crash. those who buy altcoins are dizzy only bitcoin has dropped slightly. I hope the price stabilizes first so that the price of altcoins does not fall deeper.

[jaberwock]

But, the price hardly gain an amount for us to say that it was only a correction that happened lately. I am sorry but I think can believe more to those reasons the @OP had listed. It's only nice to see that we are still seeing a quick recovery despite of it. There is no real pump yet that occurred in Bitcoin but the highest pump achieved in the crypto market was from Solana. If you only said that Solana hodlers are dumping their coins, then that is more believable. And why will the Bitcoin hodlers sell when they are also aware that the halving is now close? They can just buy more in fact and wait a little more, in order to gain a massive profit.

Real pump of Bitcoin or not we just need to see how Bitcoin moves. The Solana hype is great, but the hype about a Bitcoin ETF will be even greater. We are still waiting for the spot ETF announcement next month and that will be the next Bitcoin bullish determinant. Now there is a correction but it is still quite normal and whoever can survive will get back their profits because Bitcoin will continue to a new ATH.

ETF seems to be a great hype I agree with that, but it could be for nothing as well and that does scare me a bit. As you can see, we bottomed at 15k and went to near 45k levels without ETF, but the potential of it was always there, if it gets rejected then we are going to see a big drop in the price or there is a possibility of it. That is the part that scares me the most and I do not think that I really want to see that happening at any given moment.

I believe that the best thing we could do at this moment would be just letting it be a bit more calmed down and just hope that the price stays as good as it gets. If we can get the ETF that is lovely, I would love to see that, but that doesn't mean that we should be tied to it.

[AakZaki]

ETF seems to be a great hype I agree with that, but it could be for nothing as well and that does scare me a bit. As you can see, we bottomed at 15k and went to near 45k levels without ETF, but the potential of it was always there, if it gets rejected then we are going to see a big drop in the price or there is a possibility of it. That is the part that scares me the most and I do not think that I really want to see that happening at any given moment.

I believe that the best thing we could do at this moment would be just letting it be a bit more calmed down and just hope that the price stays as good as it gets. If we can get the ETF that is lovely, I would love to see that, but that doesn't mean that we should be tied to it.

The ETF decision is only a reference, like it or not we have to wait for it and the effect on the ETF decision will affect the price of bitcoin. even though it is not bound, this will have quite fatal short-term effects if it is always postponed, let alone rejected. But we'll see how ETFs react over the next month. Wishing all the best for Bitcoin.

[_BlackStar]

-snip-

The ETF decision is only a reference, like it or not we have to wait for it and the effect on the ETF decision will affect the price of bitcoin. even though it is not bound, this will have quite fatal short-term effects if it is always postponed, let alone rejected. But we'll see how ETFs react over the next month. Wishing all the best for Bitcoin.

Righ now - the price of bitcoin has crossed $47K, this is one of the possible reasons the ETF will be approved. I stick to my main stance – hold bitcoin longer and follow the process until you get a worth it return afterward. If the SEC delays the bitcoin ETF announcement, this will cause a correction - but this will only be short-term before the market recovers. The fundamentals are too strong to expect this positive sentiment to continue - so be patient and hang in there.

I'm also waiting for a decision - but whatever it is, basically it won't influence me to sell bitcoin as soon as possible. Day traders can take advantage of this momentum to gain profits - while holders have to stay longer with their respective targets.

[Oasisman]

Their is always speculation concerning bitcoin, whenever Bitcoin is approaching to good heights of price, the thing is that the price of bitcoin always approach high and low and what's makes the price to increase to such is because of the demands and when the demands is higher than the supply the price rise up unexpectedly, so the price is not stable and it may rise today and tomorrow it may fall that's the nature of cryptocurrency especially bitcoin

There is indeed always speculation because bitcoin is a highly speculative asset, without it we may not be able to see it's volatility. So yeah all is natural and the market is healthy when we see huge pumps and dumps, there's nothing much to worry about.
Also, these speculations were a product of technical and fundamental analysis. If there is a sudden noticeable movement in bitcoin's price, it will always have a corresponding news or some speculative reason as to why the market sentiments suddenly shifts. Understanding the market is quite complicated and you might need several tools to be up to date with the latest forecast.

[Mpamaegbu]

Which one could be reason of such movement?

These momentary dips that don't last a day or two shouldn't be anything anyone will worry their head on. It's normal. Investors take profit from time to time. It's not a big deal. Many of us who hodl a sizeable proportion of various alts also do what Bitcoin whales do. So, we should know the game and not feel shocked when such happens. For me, I think it's neither of all the factors you listed that caused that dip. Ok, now that it's back to $46k+ what do we attribute it to? Truth is that if there's manipulation, the evidence is a huge dump and not the momentary $2k-$3k dip.

[CryptoBuds]

But, the price hardly gain an amount for us to say that it was only a correction that happened lately. I am sorry but I think can believe more to those reasons the @OP had listed. It's only nice to see that we are still seeing a quick recovery despite of it. There is no real pump yet that occurred in Bitcoin but the highest pump achieved in the crypto market was from Solana. If you only said that Solana hodlers are dumping their coins, then that is more believable. And why will the Bitcoin hodlers sell when they are also aware that the halving is now close? They can just buy more in fact and wait a little more, in order to gain a massive profit.

Real pump of Bitcoin or not we just need to see how Bitcoin moves. The Solana hype is great, but the hype about a Bitcoin ETF will be even greater. We are still waiting for the spot ETF announcement next month and that will be the next Bitcoin bullish determinant. Now there is a correction but it is still quite normal and whoever can survive will get back their profits because Bitcoin will continue to a new ATH.

ETF seems to be a great hype I agree with that, but it could be for nothing as well and that does scare me a bit. As you can see, we bottomed at 15k and went to near 45k levels without ETF, but the potential of it was always there, if it gets rejected then we are going to see a big drop in the price or there is a possibility of it. That is the part that scares me the most and I do not think that I really want to see that happening at any given moment.

I believe that the best thing we could do at this moment would be just letting it be a bit more calmed down and just hope that the price stays as good as it gets. If we can get the ETF that is lovely, I would love to see that, but that doesn't mean that we should be tied to it.

I disagree on this, we should not deny that the recent recovery and increase in bitcoin price is not related to ETF news. Although we still don't have the final result on whether the SEC will approve an ETF or not, in the past 2 months, positive news about ETFs has been the main reason for bitcoin's price increase and we should not deny that. Whether there are ETFs or not, bitcoin will continue to grow and develop stronger, but I have to admit that the ETF is a pretty good catalyst for bitcoin's growth.

[Yaunfitda]

Which one could be reason of such movement?

These momentary dips that don't last a day or two shouldn't be anything anyone will worry their head on. It's normal. Investors take profit from time to time. It's not a big deal. Many of us who hodl a sizeable proportion of various alts also do what Bitcoin whales do. So, we should know the game and not feel shocked when such happens. For me, I think it's neither of all the factors you listed that caused that dip. Ok, now that it's back to $46k+ what do we attribute it to? Truth is that if there's manipulation, the evidence is a huge dump and not the momentary $2k-$3k dip.

I don't see a dip though, prices goes to $46k right now due to this news about approval of Bitcoin Spot ETF. But if we talk about the earlier dip from $45k then to $42k, it is speculated that there could be entities manipulating the price and obviously making millions again.

But that is just pure speculation as we don't know if there are whales willing to do that or can actually move the price as the market grows big already. But in any case, we bounce back again, showing resiliency as we are inching about a news of approval in the next coming days pushing the price to $46k-$47k or even higher if it is indeed a very positive news next week.

[dezoel]

Speculation is what is happening at all times, it is not really a new idea and I think it should not be really used as a big deal, we just need to make sure that we are dealing with something that has to be fine, and we are about there give or take. I get that it is not really easy to handle all these ups and downs for many people, but that just doesn't mean that we are going to end up with anything big or small.

I hope that we could end up with something that has to be all that great, it just means that we are going to end up with a bigger issue. I hope that people could realize that volatility is just a natural part of the deal, and that should not be all that crazy, we just need to realize it is not that much of a big deal.

[naikturun]

Until now, the Bitcoin ETF issue is still the main factor, Bitcoin being very aggressive, one day it can fall up to 8%, then the next day it has risen again.
This can make people panic a bit.

[Richbased]

Until now, the Bitcoin ETF issue is still the main factor, Bitcoin being very aggressive, one day it can fall up to 8%, then the next day it has risen again.
This can make people panic a bit.

You need to understand that the initial controversy about the SEC ETF Twitter account being hacked before the approval of the spot Bitcoin ETFs was one of the reasons why there hasn't been a fast rise in the price of Bitcoin and to me; I see it that the United States SEC did it on purpose because had it been they just blown it to air and the price records a significant rise I believe most investors would have been so desperate to sell off their coin at that high price thereby the price may also start dipping.

The fluctuations in the price of Bitcoin even before ETF approval was obvious but it isn't gonna stay longer before the price will start to skyrocket again so all what we ought to do now is to be patient and hodl the coins we have in our portfolio, if possible acquire more now that the price is dipping because there's actually gonna be a huge increase in the price of Bitcoin after the halving.

[Zigabel]

Bitcoin was around $45K to $45.5K for the whole day, but it started going down for the last two hours. Bitcoin just touched $40.7K, and now it's around $42K again. I was trying to figure out what had just happened. Bitcoin lost $3K in two hours and alts are now bleeding. There are several negative news just popped up and some of them are

* SEC will REJECT Bitcoin Spot ETFs Again Says Matrixport Report
* Miners Unload BTC to Exchanges
* Matrixport Predicts Bitcoin Price Dip To $36k Amid SEC’s Potential Rejection Of BTC Spot ETF

Which one could be reason of such movement?

Recently there have been so much of news around the movement of Bitcoin and other activities around Bitcoin and this has all contributed a lot to the current movements seen in the market so it's either of all of the above which you have mentioned, but then after all these events been anticipated around Bitcoin must have taken place, definitely Bitcoin will maintain some stability around a certain price range . I'd you would want to get in on Bitcoin now envisage more of a bullish movement, and wait for good entries so you will be able to make good profit from the next market movement.

[kentrolla]

Until now, the Bitcoin ETF issue is still the main factor, Bitcoin being very aggressive, one day it can fall up to 8%, then the next day it has risen again.
This can make people panic a bit.

You need to understand that the initial controversy about the SEC ETF Twitter account being hacked before the approval of the spot Bitcoin ETFs was one of the reasons why there hasn't been a fast rise in the price of Bitcoin and to me; I see it that the United States SEC did it on purpose because had it been they just blown it to air and the price records a significant rise I believe most investors would have been so desperate to sell off their coin at that high price thereby the price may also start dipping.

The fluctuations in the price of Bitcoin even before ETF approval was obvious but it isn't gonna stay longer before the price will start to skyrocket again so all what we ought to do now is to be patient and hodl the coins we have in our portfolio, if possible acquire more now that the price is dipping because there's actually gonna be a huge increase in the price of Bitcoin after the halving.

Yes there are still lot of confusion as people were expecting for a massive pump post SEC's approval of ETF but we have definitely seen pump and fluctuation but not at the scale at which people were expecting which may populate some doubt of insecurity in people's mind leading to a negative thought about a possible correction but we need to stay calm and shouldn't make any decision in hassle as I have seen people selling off when BTC hit back $40K but it only pumped back from that number. It's time to be more cautious than ever and avoid fuds.